Canadian Western Bank (TSE:CWB) Price Target Raised to C$58.00

Canadian Western Bank (TSE:CWB) had its target price lifted by BMO Capital Markets from C$52.00 to C$58.00 in a report issued on Monday morning,BayStreet.CA reports.

A number of other brokerages have also commented on CWB. Cibc World Mkts raised Canadian Western Bank to a “hold” rating in a research note on Tuesday, September 3rd. Cormark boosted their target price on Canadian Western Bank from C$46.00 to C$47.00 in a research report on Tuesday, September 3rd. CIBC boosted their target price on shares of Canadian Western Bank from C$55.80 to C$60.30 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Raymond James downgraded shares of Canadian Western Bank from a “moderate buy” rating to a “hold” rating and increased their target price for the stock from C$52.00 to C$54.00 in a research note on Tuesday, September 3rd. Finally, Desjardins increased their target price on shares of Canadian Western Bank from C$53.00 to C$57.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Western Bank presently has an average rating of “Moderate Buy” and an average price target of C$48.57.

Canadian Western Bank Stock Up 1.5 %

Shares of TSE CWB opened at C$59.64 on Monday. The firm has a market capitalization of C$5.77 billion, a P/E ratio of 20.01, a P/E/G ratio of 2.95 and a beta of 1.39. The stock’s 50-day simple moving average is C$55.61 and its two-hundred day simple moving average is C$45.30. Canadian Western Bank has a twelve month low of C$24.66 and a twelve month high of C$59.67.

Canadian Western Bank (TSE:CWB) last released its quarterly earnings data on Friday, August 30th. The company reported C$0.60 earnings per share for the quarter, missing the consensus estimate of C$0.87 by C($0.27). The business had revenue of C$298.47 million during the quarter, compared to analysts’ expectations of C$296.88 million. Canadian Western Bank had a return on equity of 7.51% and a net margin of 29.23%. As a group, research analysts anticipate that Canadian Western Bank will post 3.656168 EPS for the current fiscal year.

Canadian Western Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, September 12th. Canadian Western Bank’s dividend payout ratio is currently 46.98%.

Insider Buying and Selling at Canadian Western Bank

In other Canadian Western Bank news, Senior Officer Trent Albert Erickson sold 3,900 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$51.42, for a total value of C$200,538.00. Corporate insiders own 0.46% of the company’s stock.

Canadian Western Bank Company Profile

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.